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@article{184586,
        author = {Samita Shinde Doiphode and Dr Sonali Parchure},
        title = {BRIDGING FINANCIAL GAPS: ASSESSING LITERACY, PLANNING, AND CHALLENGES OF SHG MEMBERS IN PIMPRI CHINCHWAD},
        journal = {International Journal of Innovative Research in Technology},
        year = {2025},
        volume = {12},
        number = {4},
        pages = {2112-2128},
        issn = {2349-6002},
        url = {https://ijirt.org/article?manuscript=184586},
        abstract = {Self-Help Groups (SHGs) play a pivotal role in promoting financial inclusion and economic empowerment, particularly among low-income communities. This study examines the financial literacy, personal financial planning, and investment behaviors of SHG members in the Pimpri Chinchwad area to identify knowledge gaps and practical challenges that influence financial stability. Using a descriptive research design, primary data were collected from SHG members representing diverse sectors such as retail, services, agriculture, handicrafts, and food processing.
Findings reveal significant variations in financial literacy across SHG categories. While most members understand basic concepts like savings and account operations, advanced knowledge of digital tools and investment products is unevenly distributed—retail and service SHGs showing greater proficiency compared to agriculture and handicraft groups. Personal financial planning awareness also differs, with service-oriented members more likely to set goals, budget, and diversify investments, whereas others rely heavily on traditional saving methods. Investment patterns align with business activity, with modern investment adoption more prevalent in market-facing SHGs, and gold or informal schemes preferred in traditional sectors.
Financial challenges, including irregular income, reliance on informal loans, and limited emergency preparedness, are more acute in agriculture and food processing groups, threatening both business and household stability. The study concludes that targeted, sector-specific interventions—focusing on budgeting, emergency planning, safe investment practices, and adoption of digital finance—are essential to enhance SHG members’ financial security. Strengthening links to government schemes and financial advisory services can further bridge disparities, fostering equitable economic empowerment and sustainable growth among SHG communities.},
        keywords = {Self-Help Groups (SHGs), Financial Literacy, Personal Financial Planning, Investment Patterns.},
        month = {September},
        }